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Anna EDC authorizes up to $6.19 million in promissory notes for new project
Summary
The Anna Economic Development Corporation approved a resolution authorizing issuance of promissory notes not to exceed $6,191,500 for a new economic development project. Government Capital recommended a fixed taxable rate of 5.67% with staged call provisions; city council ratification will be required within 60 days of funding.
Anna’s Economic Development Corporation on Nov. 13 approved a resolution authorizing issuance of promissory notes not to exceed $6,191,500 to finance a proposed economic development project.
EDC staff introduced the project and said the board’s approval would allow staff to pursue financing and later present related purchase-and-sale agreements to the City Council. "We approved to move forward with a financing that's not going to exceed 6,000,000,…
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